Legal7 Jul 2026, 02:29 pm
Bombay Wire Ropes: Developer to bear compensation liability
AI Summary
Bombay Wire Ropes Ltd has received an order and award from the Industrial Court and Industrial Tribunal, Maharashtra, Thane. The directives include compensation payments to workmen. However, the company states that any financial liability arising from these orders will be entirely borne by a developer, as per consent terms filed before the Bombay High Court in 2012. This disclosure is made as a matter of abundant precaution.
Key Highlights
- Company received compensation order and award from labor unions.
- Financial liability to be borne entirely by a developer.
- Developer's commitment is based on 2012 Consent Terms.
- Disclosure made as a matter of abundant precaution.
Price Impact
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